The Ministry of Economy expects to update the agreement with Canada on investment and services. Ukraine also expects to sign a free trade agreement with the OAE this year. It will allow Ukrainian companies to trade without customs restrictions. The First Deputy Prime Minister of Ukraine – Minister of Economy Yuliia Svyrydenko said it at the Exporters' Summit.
The Ministry of Economy has identified joining the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (СРТРР) as a priority. It will open up the possibility of free trade with countries that do not yet have a 'duty-free' regime, such as Japan, New Zealand and Australia.
These steps could increase Ukraine's exports, which totalled $44.1 billion last year. It accounted for a third of budget revenues. According to the Ministry of Economy, the 2023 budget envisages a 7.2% increase in exports of goods and services. Ukraine will also develop land transport corridors to make it less dependent on sea exports, even after all ports are unblocked and reopened.
Illustrative photo: Pascal Meier (c) Unsplash
The Ministry of Economy of Ukraine expects to extend the free trade and sign an agreement with UAE
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